REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 28 February 2023 |
for |
EXCELLENCE ESTATES LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 28 February 2023 |
for |
EXCELLENCE ESTATES LTD |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EXCELLENCE ESTATES LTD |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Other reserves | 13 |
Retained earnings | 13 | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Balance Sheet - continued |
28 February 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Excellence Estates Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 | 1 |
NET BOOK VALUE |
At 28 February 2023 | 1 |
At 28 February 2022 | 1 |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2022 |
Additions |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
Fair value at 28 February 2023 is represented by: |
£ |
Valuation in 2021 | 37,731 |
Cost | 552,447 |
590,178 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | 77,240 | 58,740 |
Other creditors |
Directors' current accounts | 64,765 | 46,781 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Bank loans (see note 9) |
Directors' loan accounts | 210,000 | 210,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 207,233 | 207,233 |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
28.2.23 | 28.2.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 207,233 | 207,233 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
28.2.23 | 28.2.22 |
£ | £ |
Bank loans |
Bank loans of £207,233 are secured by fixed and floating charge against related investments. |
11. | PROVISIONS FOR LIABILITIES |
28.2.23 | 28.2.22 |
£ | £ |
Deferred tax | 7,169 | 7,169 |
Deferred |
tax |
£ |
Balance at 1 March 2022 |
Balance at 28 February 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
A Ordinary | £1 | 1 | 1 |
B Ordinary | £1 | 1 | 1 |
C Ordinary | £1 | 1,000 | 1,000 |
D Ordinary | £1 | 1,000 | 1,000 |
2,002 | 2,002 |
13. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 March 2022 | 32,703 |
Deficit for the year | ( |
) | ( |
) |
At 28 February 2023 | ( |
) | 24,959 |
EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
14. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, included in creditors due within one year is £64,765 (2022 : £46,781) due and payable to the director. The amount is repayable on demand. |
As at the balance sheet date, included in creditors due within more than one year is £210,000 (2022 : £210,000) due and payable to the director. The amount is repayable on demand. |
As at the balance sheet date, included in creditors due within one year is £77,240 (2022 : £58,740) due and payable to Cor Logistics Limited, a company under common control. |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |